K-Electric to raise Rs25b through Sukuk

KARACHI: K-Electric has decided to raise debt worth up to Rs25 billion to finance ongoing projects in the areas of power generation, transmission and distribution and to finance day-to-day expenditure.
“K-Electric has been facing certain cash-flow constraints since its multi-year power tariff was revised downwards (by the regulatory authority),” the company spokesperson told The Express Tribune.
Company Secretary Muhammad Rizwan Dalia reported to the Pakistan Stock Exchange (PSX) “the board of directors of the company, at a meeting held on February 8 (Friday), …approved the issue of KE-rated and listed Sukuk of up to Rs25 billion, including a green shoe option of up to Rs5 billion.”..read more
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